According to the analysis results of the "Logistics Performance Index" (LPI) 2023 published by the World Bank (WB), Korea ranked 17th in logistics competitiveness.

The WB publishes the LPI index every two years, ranking more than 160 countries and territories worldwide on competitiveness in this field. During the COVID-19 period, the WB was unable to conduct the survey, so this is the first report published in 5 years since 2018.

The Korea Chamber of Commerce and Industry (KORCHAM) said on June 26 that Korea ranked 21st in 2014, 24th in 2016 and 25th in 2018. This year, Korea entered the Top 20 for the first time. Among Asian countries, Singapore ranked first.

Experts point out that national logistics competitiveness is not only closely related to the competitiveness ranking of enterprises globally, but also brings about the effectiveness of attracting foreign enterprises to invest and transport goods domestically.

Among the categories that make up the LPI, Korea ranked 7th in the category of "customs clearance" and 9th in "logistics infrastructure", which is analyzed to be due to simplified customs clearance procedures or upgraded basic infrastructure such as airports and seaports.

However, the remaining categories are all outside the Top 20, such as "cargo tracking" (23rd), "timeliness" (25th), "convenience in calculating freight rates" (26th), "logistics services" (20th). This poses an urgent problem for the Korean logistics industry to ensure competitiveness in the software system providing and operating logistics services.

KORCHAM recommends that the Korean Government should promote digital transformation of the logistics industry, establish a comprehensive data platform to improve the quality of accurate and timely freight tracking, and increase support for small and medium-sized logistics enterprises to improve service quality.